April 23, 2008
Merrill Lynch Launches Client-Based ‘Climate Change Solution’
Merrill Lynch has launched “Green & Gold,” what it describes as “a full-service climate change solution with a strong focus on sustainability.”
Intended for companies in the Americas, Asia and Europe that do not currently face a regulatory requirement to reduce carbon emissions but wish to develop a carbon strategy, Green & Gold aims to help companies identify potential opportunities that also reduce emissions and costs.
“Companies seeking to attain a carbon-neutral position by offsetting any residual emissions can protect their reputation through procuring carbon credits with the highest sustainability attributes in the voluntary carbon market,” according to a company news release.
In partnership with Merrill Lynch, consulting firm ICF International, will identify clients’ carbon footprints and emissions and work to identify potential opportunities to reduce emissions.
The carbon market is worth $70 billion and “provides the most cost-effective approach for companies to reduce and offset their emissions of greenhouse gases,” said Merrill’s managing director and global head of carbon emissions, Abyd Karmali.
Last month, Merrill signed a partnership with the Carbon Disclosure Project to support CDP’s development and growth worldwide over the next three years.
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